Wow! Today's doji bar candle marked the 8th correction bar to closed 3 points lower at 1265.5 with last minutes selldown. Chart wise, price penetrated below the middle Bollinger band = market sentiment has turned negative. Bollinger band width continue to squeeze narrower = the negative sentiment has yet to turn severe with possible side way range bound. MACD Histrogram continue to fall = sellers refused to leave the market and have started building their colony. Immediate support stands at 1257~1254 level and resistant rest at the middle Bollinger band level.
When to buy (Dec09 Contract) : buy at support or weakness with quick cut loss and profit target.
When to sell (Dec09 Contract) : sell at resistant/strength/break down with larger cut loss and profit target.
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